Economy

How is ME affected by new USMCA trade agreement?

How is ME affected by new USMCA trade agreement?

"We are reviewing details and impact of the new United States-Mexico-Canada Agreement, but it is clear the concessions made will hurt hard-working farmers in our supply managed sectors, especially the dairy industry", said Hardeman, Oxford's MPP.

"It really doesn't address oil and gas in any respect, so that's really crucial for us of course", he said.

"It definitely means that we will be producing less Canadian milk, which is not good for Canadian dairy farmers", Goular said. "We are waiting for and explanation as to how this is considered support to us". "[U.S. President Donald] Trump has turned the absurdity of American dairy, a system that needs reform to survive, into a talking point to help Republicans in the upcoming byelection". Now that there's a deal, they should be able to "back out of this with their dignity intact".

However, she added that the amount and type of compensation will be worked out in coming months while Canada, the United States and Mexico all work to ratify the agreement reached late Sunday.

He says dairy farmers will be compensated to make up for access to 3.59 per cent of Canada's market by American dairy producers under the new agreement.

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Bickford said dairy in ME is a $500 million per year industry.

It's essentially status quo for Saskatchewan's major exports into the USA, including oil, potash, uranium, canola and wheat.

"Not only should we demand the highest possible labor and environmental standards, but ensure they are fully enforceable - a standard which many of our past trade agreements have not met", said Kind, D-La Crosse.

"Mexico, meanwhile, is still an $18 billion market for U.S.ag products". U.S. Sens. Kirsten E. Gillibrand and Charles E. Schumer, D-N.Y., said this part of the agreement would benefit dairy farmers in NY.

"Consumers continue to consume products like cheese, yogurt and other types of dairy products, so I think, within the country as well as global markets, there's a whole lot of factors that impact us there", Williams said.

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Warren Graeff, agriculture banking market manager for PNC Bank, says “ultimately the news appears friendly to the US dairy industry.” PNC has about 2,600 branches spread across 19 states, including several in Madison and Milwaukee.

Canada represents the second-largest market for California agricultural exports, with sales of more than $3.3 billion in 2016-the most recent year for which full statistics are available. "And it's an agreement that will be profoundly beneficial for our economy, for Canadian families, and for the middle class", Trudeau said.

"This is tremendous news for our north country economy, and I applaud US and Canadian negotiators for their tireless work on this important agreement", Ms. Stefanik wrote in a statement.

"Manitoba deeply values its trading relationships", Pallister said in a statement on Monday.

Some of the general areas of disagreement were supply management, auto exports and dispute resolution mechanisms.

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